@soljarag wrote:
Hello, I think I'm missing a 1099-R, but want to make sure.
Here is the timeline of my issue:
03/01/2021 - Made a $6,000 contribution to my Roth IRA
12/20/2021 - Did an Excess Contrib Withdraw to pull out the $6,000 since I am above the income limit
12/20/2021 - Opened an IRA account
03/22/2022 - Made a non deductible $6,000 contribution to the IRA for 2021
04/05/2022 - Converted the IRA to a Roth.
As of right now, I have only 1 1099-R that shows a J8 code, and I THINK that is the Excess Contribution Withdraw.
Should I also have a 1099-R that shows the conversion?
Thanks!!
No. Since the conversion was done in 2022 you will receive the 1099-R next year to go on your 2022 tax return.
Be sure you enter the 2020 non-deductible Traditional IRA contribution to produce a 2021 8606 form with the $6,000 on lines 1,3 and 14. You will need the line 14 amount for the 2022 1099-R next year.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
